How Stupid Are We to Bail Out Millionaire Bankers?
Thursday, February 5th, 2009
In today’s article we include a picture of mirror, because the stupid person here is us — you and me and all the American citizens.
In December our government passed a $700 billion package to use taxpayer funds to bail out the banking industry. So far over $350 billion has been spent with pretty much nothing to show for it. The credit markets remain frozen, the stock market had its worst January in history, and new jobless claims reached an all-time high.
But while we lose our jobs, say goodbye to our retirement funds, and struggle to make ends meet, the top officers in the banks that received our bailout money continued to haul in obscene salaries and bonuses. That’s right, the people who helped collapse our economy because of their greed and irresponsibility were rewarded with riches beyond belief for their poor performance.
